Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance shown. Total return is calculated by determining the percentage change in NAV or market price (as applicable) in the specified period. The calculation assumes that all income dividends, capital gain and return of capital distributions, if any, have been reinvested as per the fund’s Dividend Reinvestment Plan (“DRIP”). Performance returns are net of fees and expenses. Total return does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or broker commissions or sales charges in connection with the purchase or sale of Fund shares. Investment return and principal value will vary, and shares, when sold, may be worth more or less than their original cost. Total returns for a period of less than one year are not annualized.

1 Inception Date - December 22, 2010

2 Performance on a market value basis, or at a market price, will differ from its results at NAV. Although market price returns typically reflect investment results over time, during shorter periods, returns at market price can also be influenced by factors such as changing view about the Fund, market conditions, supply and demand for the Fund's shares, or changes in Fund dividends.

3 The J.P. Morgan EMBI Global Diversified Index tracks total returns for U.S. dollar denominated debt instruments issued by emerging markets sovereign and quasi‐sovereign entities: Brady bonds, loans, and Eurobonds. The index limits the weights of those index countries with larger debt stocks by only including specified portions of these countries’ eligible current face amounts outstanding.

There is no assurance that the Fund will achieve its investment objective. An investor should consider, among other things, the Fund's investment objective, risks, charges and expenses carefully before investing.

Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. Therefore, before investing you should consider carefully, among other things, the Fund's investment objective, charges and expenses, and the risks that you will assume if you invest in the Fund's common shares.

THE FUND SHOULD BE CONSIDERED AS ONLY ONE ELEMENT OF A COMPLETE INVESTMENT PROGRAM. AN INVESTMENT IN THIS FUND SHOULD BE CONSIDERED SPECULATIVE. CLOSED-END FUNDS FREQUENTLY TRADE AT A DISCOUNT TO THEIR NET ASSET VALUES.

The Distribution Rate on Market Price is based on the Fund's current annualized monthly distribution divided by the Fund's current market price. Sources of distributions to shareholders may include net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time, available at www.shiplpcef.com. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year. Distribution payments are not guaranteed; distribution rates will vary and you should not draw any conclusions about the fund's past or future investment performance from its current distribution rate.